PROJ 595 Week 8 Final Exam (Version 2​)

Jul 6th, 2016
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DeVry University
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Question 1. (TCOs A and B) Quantitative risk analysis does all of the following, except (Points : 5) Question 2. (TCO G) You need to ensure your project is completed by July 1 of next year. You do not have time to do all the design work yourself, so you decide to contract out that work. Which type of contract would likely be best in this situation? (Points : 5) Question 3. (TCO D) Which risk response strategy is most appropriate for risks on the watch list? (Points : 5) Question 4. (TCOs A and B) You have been appointed as a project manager for a high-dollar project for the public sector, and you have been asked by your boss to identify the stakeholder groups and the individuals who make up those groups in order to start the stakeholder analysis. Identify at least six groups of stakeholders and the individuals who comprise those groups, and explain when the stakeholder identification process should take place during the planning of the project. (Points : 20)

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1. (TCOs A and B) Quantitative risk analysis does all of the following, except (Points : 5)perform a Monte Carlo analysis.employ EVM.utilize sensitivity analysis.employ a risk matrix.Question 2. 2. (TCO G) You need to ensure your project is completed by July 1 of nextyear. You do not have time to do all the design work yourself, so you decide to contract outthat work. Which type of contract would likely be best in this situation? (Points : 5)Cost plusFixed price with economic price adjustmentFixed price with incentivesCost plus with incentivesQuestion 3. 3. (TCO D) Which risk response strategy is most appropriate for risks on thewatch list? (Points : 5)TransferenceExploitationPassive acceptanceActive acceptanceQuestion 4. 4. (TCOs A and B) You have been appointed as a project manager for ahigh-dollar project for the public sector, and you have been asked by your boss toidentify the stakeholder groups and the individuals who make up those groups in orderto start the stakeholder analysis. Identify at least six groups of stakeholders and theindividuals who comprise those groups, and explain when the stakeholder identificationprocess should take place during the planning of the project. (Points : 20)A project manager has to identify the project sponsor, users or customers, any functionalmanagers or organizational groups that will be affected or needed along with any externalbusiness partners or vendors. Identification of stakeholders is the most imp

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